Kaleva Norman Dixon School District Bonding Proposal
Shall Kaleva Norman Dickson School District, Manistee, Lake and Mason Counties, Michigan, borrow the sum of not to exceed Two Million Seven Hundred Seventy-Five Thousand Dollars ($2,775,000) and issue its general obligation unlimited tax bonds therefor for the purpose of: remodeling and equipping and re-equipping school buildings; erecting and equipping a new bus barn; acquiring, installing, equipping or re-equipping school buildings for instructional technology; purchasing school buses; and preparing, developing, improving and equipping playgrounds, athletic facilities and sites?The following is for informational purposes only:The estimated millage that will be levied for the proposed bonds in 2020 is .80 mill ($0.80 on each $1,000 of taxable valuation) for a 0 mill net increase over the prior year’s levy. The maximum number of years the bonds may be outstanding, exclusive of any refunding, is eight (8) years. The estimated simple average annual millage anticipated to be required to retire this bond debt is 1.78 mills ($1.78 on each $1,000 of taxable valuation).(Pursuant to State law, expenditure of bond proceeds must be audited, and the proceeds cannot be used for repair or maintenance costs, teacher, administrator or employee salaries, or other operating expenses.)
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